Joining Forces for Mutual Success: Lingyi Biotech and Jolly Pharmaceutical Enter Strategic Partnership Framework Agreement

On November 20, 2024, Lingyi (Hangzhou) Biotechnology Co., Ltd. (referred to as "Lingyi Biotech") and Zhejiang Jolly Pharmaceutical Co., Ltd. (referred to as "Jolly Pharmaceutical") entered into a significant "Strategic Cooperation Framework Agreement" at Jolly Pharmaceutical's headquarters. Dr. Lin Qing, CEO and founder of Lingyi Biotech, and Mr. Yu Youqiang, chairman of Jolly Pharmaceutical, represented their respective companies in signing this pivotal document, marking a new chapter in their collaborative efforts.

According to the "Strategic Cooperation Framework Agreement," both parties will fully integrate their respective strengths and conduct in-depth cooperation in areas such as equity collaboration, research and development, and sales cooperation. Zhejiang Jolly Pharmaceutical Co., Ltd. (referred to as "Jolly Pharmaceutical") will leverage its capital advantages as a listed company, as well as its strengths in drug research and development, registration and filing, and commercialization, to assist Lingyi (Hangzhou) Biotechnology Co., Ltd. (referred to as "Lingyi Biotech") in advancing the research and development of existing drugs, as well as future registration, filing, and commercialization efforts. Lingyi Biotech will utilize its strengths in drug discovery, optimization, screening, and pharmacological efficacy to assist Jolly Pharmaceutical in drug development, further capturing domestic and international markets. Both parties will establish corresponding communication and meeting mechanisms to study and resolve significant issues in cooperation, agree on relevant policies, and promote the substantive progress of collaborative projects.

 

Mr. Wang Tao, General Manager of  Jolly Pharmaceutical: We are delighted to hold the strategic cooperation signing ceremony between Jolly Pharmaceutical and Lingyi Biotech here, which is a significant joyous event in the development of both parties. In the process of communicating with the Lingyi Biotech team, Jolly Pharmaceutical has deeply felt the pragmatism, professionalism, and continuous improvement of the Lingyi Biotech team. We hope that through this strategic cooperation, Jolly Pharmaceutical can fully leverage its capital advantages as a listed company, as well as its strengths in drug research and development, registration and filing, and commercialization; Lingyi Biotech can also utilize its strengths in drug discovery, optimization, screening, and pharmacological efficacy, and both parties can collaborate in equity, research and development, sales, and products to form a joint force and achieve mutual benefit and win-win results.

Dr. Lin Qing, Founder and CEO of Lingyi Biotech: I am very grateful to Chairman Yu Youqiang and Jolly Pharmaceutical for their recognition and trust in Lingyi Biotech, giving us the opportunity to cooperate strategically with a well-known pharmaceutical listed company like Jolly Pharmaceutical. Jolly Pharmaceutical is a rare traditional Chinese medicine enterprise with an innovative gene, based on innovative modern biotechnology and modern traditional Chinese medicine theory, continuously introducing new ideas and forming two product series: Ulinx and Bailing. In 2016, Jolly strategically invested in CAR-T field Kedi Pharmaceutical, beginning to layout precision medicine, and Kedi Pharmaceutical has successfully gone public, fully reflecting Jolly's forward-looking vision and decision-making ability. Following the investment in Kedi Pharmaceutical's cell therapy, Jolly further expanded its layout in the advanced therapy field, fully reflecting its strategic height and forward-looking. Lingyi Biotech will further increase the research and development efforts of its pipeline, and reward investors with excellent clinical data and milestone progress.

 

About Zhejiang Jolly Pharmaceutical Co., Ltd.

Zhejiang Jolly Pharmaceutical Co., Ltd. is a national high-tech modern biotechnology traditional Chinese medicine pharmaceutical enterprise listed on the Growth Enterprise Market of Shenzhen Stock Exchange, with the stock code: 300181. It integrates scientific research, production, and sales, mainly engaged in the research and development, production, and sales of medicinal fungus Ulinx and Bailing series products, traditional Chinese medicine slices, and traditional Chinese medicine formula granules. It has strategically laid out in the field of cell and gene therapy with CARSgen Therapeutics Co., Ltd. (referred to as "Kedi Pharmaceutical", stock code HK2171), and plans to further expand its layout in the field of advanced therapies.

 

About Lingyi Biotech

Lingyi Biotech, established in February 2021, is a world-leading company in the development of innovative drugs for monogenic inherited diseases. The company has a world-class team for gene therapy discovery, research and development, and industrialization, committed to the research and development and industrialization of First-In-Class gene therapy pipelines. The company is based on original innovation, focusing on disease areas urgently needed in clinics, such as metabolism, central nervous system, and ophthalmology, starting from key technologies such as animal models of genetic diseases, and providing one-time solutions for patients with the highest quality standards.